Do you need extra money and do not know what to do? Know the best information and get loans according to your situation. Compare all our offers and take out loans of 500 euros or even up to 1,000 euros in minutes. Find out how with whom and under what conditions you will obtain the credit for you.
How to get 500 euro loans today?
The financial crisis produced a series of consequences that have made the financial world panorama radically different from the one that was less than a decade ago. Previously, the variety of products was much lower and conventional banks were the only entities with which credits could be obtained.
However, the reduction in the granting of loans by these entities generated a commercial space for the arrival of new lenders with novel and different products. For example, we have the possibility of obtaining loans of 500 euros or even a loan of 1,000 euros in a few minutes.
Speed is the main differential feature of most of these private lenders and that is part of the success they have had in recent years. It also helps that, in general, the requirements we have to meet are lower, that the paperwork that must be carried out is minimal or non-existent in many cases and that it is not necessary to provide mountains of documents.
This has led to conventional banks having to modify their offers and their products in some aspects and, for this reason, many of them have reduced their amount by offering loans of 500 euros as a minimum amount to try to capture in this way a greater number of clients.
Which lenders offer credits of this amount?
The current scenario is very different from the one that was a few years ago, as the arrival of private online lenders has meant a real revolution in the financing sector. Many of these private equity companies have specialized in the granting of low-value loans, among which we find credits of 500 euros.
However, in most cases, these companies will not let us ask for more than 300 euros if it is the first time we hire their services because they will not yet fully trust our ability to repay. Therefore, to obtain loans of 500 euros or even up to 1,500 euros, we will have to be existing clients with a good payment history.
However, in view of this new context that has been opened, traditional banks have had to react to such change and modify their offer. For example, one of the measures that several banks have opted for has been to reduce the minimum amount of their loans, so with some entities, it is possible to contract bank loans with amounts lower than those of a few years ago. In turn, hiring and using a credit card will also allow us to have 500 euros of loans instantly.
Can I contract loans of 500 euros with ASNEF?
Yes, but only if we go to a private lender. The banking entities never approve the requests of those that appear in files of defaulters, because they do not want to assume the risk of non-payment associated to the operation. Likewise, crowdlending platforms and many private companies follow the same criteria and do not lend money to people who have outstanding debts registered in ASNEF, in EXPERIAN or in any other list of defaults.
However, there are several private lenders with which we can get loans of 500 euros although we are in a file of defaults. For this, we will generally have to meet two conditions:
- The unpaid debt cannot exceed the limits established by the financial institution to which we go, which can range from 500 euros to 2,000 euros.
- The origin of our debt cannot be financial. If we have committed a non-payment of a previous loan, a mortgage installment, a bank discovery or the installment payments of our cards, we will not be able to obtain these credits with ASNEF.
In the event that we have outstanding unpaid debts, it is advisable that we contact our financial institution as soon as possible to inform them of our situation. In these cases, the private lender usually asks us for a document that shows the origin of the non-payment and the amount that we do not pay.
Can I apply for credits of that amount 100% online?
The arrival of the Internet revolutionized the commercial world, which took advantage of new technologies to sell all kinds of products through virtual platforms. The traditional financial sector, however, took longer to incorporate all these advances and was overtaken by alternative lenders who digitized their approval and concession processes to be able to market their credits through the Internet.
To compete with these new financing providers and adapt to the new demands of society, conventional banks have ended up joining the digital trend and, currently, many of their economic products can be requested 100% online.
Therefore, we can now get loans from 500 euros or loans of more than 6,000 euros, totally online both through banks and through other financing providers. We can also request them from the Comparator HelpMyCash.com, where we can compare the credit conditions of various amounts and we can choose the offer that best suits our needs and our economic situation.
Common reasons to borrow 500 euros
As we have already mentioned, when the economic crisis arose in Spain many people had many difficulties in accessing the financing they needed, since the requirements of banking entities were much stricter. Nonetheless, private equity lenders emerged that are much more flexible.
Thus, these companies began to offer quick loans of small amounts, with very short repayment terms and with great flexibility in terms of conditions. However, they have a higher price than any other loan, so we must be responsible when requesting them and only do so when we really need them and we are totally sure of being able to reimburse them without problems.
In fact, the purpose for which these products were created is to solve unforeseen situations that require an immediate economic response (breakdowns, fines, overly high bills, etc.) or times when our economy falters and we need extra liquidity. But as we have already commented, we should never request them as a usual funding source.